Rental company Hertz said Tuesday it is updating its online shopping website to allow customers to secure financing, get a trade-in offer and do just about everything else a buyer would need to purchase a vehicle.The move is a significant step for Hertz's online retail presence. Previously, the company's HertzCarSales.com website had only offered listings of vehicles. Most of the purchasing process happened at Hertz's retail locations, of which there are 45 in the United States."Our new e-commerce platform ...

Core Viewpoint - Hertz has successfully completed an offering of $425 million in exchangeable senior notes, indicating a strategic move to enhance its financial flexibility and capital structure [1] Group 1: Financial Details - The offering consists of exchangeable senior notes, which are a type of debt instrument that can be converted into equity under certain conditions [1] - The total amount raised through this offering is $425 million, which will be utilized to strengthen the company's balance sheet [1] Group 2: Strategic Implications - This move is part of Hertz's broader strategy to optimize its capital structure and improve liquidity, which is crucial for navigating the competitive landscape of the car rental industry [1] - The completion of this offering reflects investor confidence in Hertz's recovery and growth prospects following its recent restructuring efforts [1]

About a quarter century ago, Amazon said it wanted to sell anything and everything a person would want to buy online. Since then, revenues have grown 38,000% every time it sells a new product. Even veteran rivals fear getting Amazon.I would never bet against Amazon. They effectively have unlimited resources. Up until recently, one of the very few areas Amazon wasn't disrupting cars.But now it is making moves. The latest deal is to help sell used cars owned by the rental company Hertz. It could be a boon for ...

Market Overview - US stock futures showed little change before the opening bell on September 25, as investors awaited jobless claims data to assess the Federal Reserve's next interest rate move [1][10] - Futures on the Dow Jones Industrial Average hovered just below flat, while S&P 500 contracts slipped 0.2% and Nasdaq 100 futures dipped 0.3%, extending pressure after major indexes closed lower for two consecutive days [2][11] Economic Indicators - The focus is on weekly jobless claims, which are a key signal of labor market health and have been flagged as a concern by Fed officials [4][6] - Investors are also looking at second-quarter GDP, personal consumption, and existing home sales ahead of the Fed's preferred inflation gauge, the Personal Consumption Expenditures index, expected to show easing price pressures [7][11] Corporate Developments - Costco is set to report quarterly earnings, with analysts anticipating higher sales as consumers seek bargains in an uncertain economy [7][13] - Intel shares rose over 3% in premarket trading due to reports of potential investment talks with Apple, with Intel's stock closing at $31.22 and rising to $31.70 in early trade [12] - Hertz's stock increased by 4% after announcing a $250 million exchangeable senior notes offering [12] - Qualcomm's stock slipped 1% following the launch of new chips for PCs and phones [12] - CarMax's stock dropped 12% in premarket trading after its quarterly results missed Wall Street estimates [12] - Oracle received a downgrade from Redburn analyst Alex Haissl, who set a $175 price target, implying a 42% downside, suggesting it may be time for investors to take profits [9][13]

ESTERO, Fla.--(BUSINESS WIRE)--Hertz Global Holdings, Inc. (NASDAQ: HTZ) ("Hertz†or the "Company†), a leading global rental car company, today announced that its wholly-owned indirect subsidiary, The Hertz Corporation ("Hertz Corp.†), has entered into an agreement to sell $375 million in aggregate principal amount of 5.500% Exchangeable Senior Notes due 2030 (the "Notes†), in a private offering exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities. ...

ESTERO, Fla.--(BUSINESS WIRE)--Hertz Global Holdings, Inc. (NASDAQ: HTZ) (the "Company†), a leading global rental car company, today announced that its wholly-owned indirect subsidiary, The Hertz Corporation ("Hertz Corp.†), intends to offer, subject to market and other conditions, $250 million in aggregate principal amount of Exchangeable Senior Notes due 2030 (the "Notes†), in a private offering exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securiti. ...

Take the Activia challenge now. It works or it's free. Ah, that yogurt commercial famously parodyied by Saturday Night Live.Now, the good news. I just discover Curtis, one of the biggest stars in Hollywood, suddenly began selling panty hoes and hawking rental cars. Herz came out on top.True Lies had made $400 million. You could have done anything you wanted to do, but you were taking those spokesperson jobs. Why.For the most part, because they allowed me to stay home with my kids. So, I am I am an imperfect ...

Core Insights - Hertz is collaborating with Amazon to sell used rental cars on Amazon's platform, aiming to increase the variety of car brands available for consumers [1][2][3] - The partnership positions Hertz as Amazon Autos' first fleet dealer, expanding the selection of vehicles beyond Hyundai, which is currently the only merchant on the site [5][7] - Hertz has a significant inventory of used cars, with approximately 250,000 vehicles available for sale annually, which aligns with consumer demand for more selection in the used car market [10] Group 1: Partnership Details - Hertz will allow customers to browse and purchase used cars on Amazon, with transactions completed at Hertz Car Sales locations in select cities [7] - The initial rollout will include Hertz locations in Dallas, Houston, Los Angeles, and Seattle, with plans for future expansion to all 45 Hertz Car Sales locations nationwide [7] Group 2: Market Demand - There is a growing consumer demand for a wider selection of used cars, as indicated by the success of Hyundai's participation in Amazon Autos, which has expanded from 48 to 130 cities [9] - Hertz's extensive fleet and variety of car brands position it well to meet this demand, particularly for used vehicles [10] Group 3: Financial Outlook - Hertz has faced financial challenges, including losses in the last six quarters and significant debt of $19.4 billion, which may limit the impact of this partnership on its stock performance [12][13] - In contrast, Amazon is financially stronger and profitable, which may allow it to negotiate favorable terms from the partnership with Hertz [14]

Core Viewpoint - Avis Budget Group's shares declined nearly 6% following Hertz Global Holdings' announcement of a sales agreement with Amazon Autos, highlighting competitive pressures in the car rental industry [1][2]. Group 1: Competitive Landscape - Hertz Global Holdings has secured a significant sales channel by partnering with Amazon Autos, allowing it to sell used cars through Amazon's platform [2][4]. - The partnership with Amazon positions Hertz advantageously in the online retail space, which is crucial for attracting customers seeking vehicles [2][4]. - Both Avis and Hertz offer similar services and operate in comparable markets, making competitive differentiation essential [5]. Group 2: Strategic Implications for Avis - In response to Hertz's new sales channel, Avis may need to explore similar partnerships or enhance existing sales efforts to remain competitive [6]. - The challenge for Avis lies in matching the scale and reach of Amazon, which may require significant strategic initiatives [6].

Core Viewpoint - Avis Budget Group's stock has been downgraded from Buy to Underperform by BofA Securities, with a price target reduction from $120 to $113 due to unfavorable industry fundamentals and macroeconomic conditions [1][4]. Industry Overview - The U.S. rental car industry is experiencing pricing and demand pressures that are expected to negatively impact Avis Budget's earnings in the latter half of 2025 and into 2026 [1]. - A Bank of America survey indicates a decline in consumer expectations for increased travel spending over the next three months compared to the previous year, suggesting a softer pricing environment [2]. Company Performance - Avis Budget's growth initiatives, such as the premium-focused Avis First program and a fleet management partnership with Waymo, are recognized as positive long-term strategies but are not expected to significantly enhance near-term earnings [3]. - The analyst has revised EBITDA estimates to $0.9 billion for 2025 and $1.03 billion for 2026, down from previous forecasts of $0.95 billion and $1.2 billion [4]. - Expected sales for 2025 are projected at $8.09 billion, with an EPS of $9.43 [4]. Stock Performance - Avis Budget Group's stock is currently down 4.83%, trading at $149.06 at the time of publication [4].